Maize on NCDEX settled up by 1.31% at 1621 due to uptick in demand from consuming industries, restricted supplies from producing belts. Maize has been planted in close to 8.2 million hectares and end users expect a large crop, starting October. U.S. corn harvests have been advancing slower than average, U.S. Department of Agriculture (USDA) data showed. But fields are expected to dry out in coming days in the Midwest grain belts, helping farmers to pick up the pace.Get live News Updates visit us at Ripples Advisory or One Missed Call on @98-27-80-80-90.   

In M.P, it has been up by 1.65 lakh hectares to 12.63 lakh hectares. However, in Rajasthan, it has been down by 0.48 lakh hectares to 9.32 lakh hectares. At Khanna market in Punjab, sources reported arrivals at 5250 Quintal, higher by 1500 Quintal as against previous day. In Nizamabad maize spot prices gained 2.9 rupees to 1936.65 rupees per 100kgs.Technically market is under short covering as market has witnessed drop in open interest by -10.71% to settled at 3670 while prices up 21 rupee, now Maize is getting support at 1609 and below same could see a test of 1597 level, And resistance is now likely to be seen at 1628, a move above could see prices testing 1635.             

                            Trading Ideas  

1. Maize trading range for the day is 1597-1635.

2. In India, maize has been sown in around 83.22 lakh hectares which is higher than 76.34 lakh hectare covered during corresponding period last year.

3. U.S. corn harvests have been advancing slower than average, U.S. Department of Agriculture (USDA) data showed.

4. In Nizamabad maize spot prices gained 2.9 rupees to 1936.65 rupees per 100kgs.